What's the Difference Between the Feds and the States?
It isn’t lipstick. Rather, it’s the ability to print money. This afternoon, the President signed the +/- $800 billion bailout bill, spending borrowed money.
Here’s the next big shoe to drop:
California wants $7 billion in short term loans from the Feds. The Governator says Cali has no more credit and will be out of money at the end of the month.
Over the past month, Georgia’s officials have been upping their estimates of our budget deficit. As I recall, it is now something north of a billion dollars.
The line for the rest of the states is over there. Check in with George, Hank, John, Barack, Barney, Roy and Steny.
4 comments:
This stuff just keeps getting worse! First Wachovia's the next bank to fall but should be interesting to see who gets to win it.
Now California State employees are holding their collective breath that they'll receive paychecks next month.
Sorry, I'm grumpy. I'm trying to find the end of the line to get some of that bailout money.
Debo Blue
You think it's bad now, wait until state and municipal Baby Boom employees start retiring in a few years.
I don't really want to be paying for this bailout package in my taxes for the unseen amount of years that CNN was estimating last week to be about 50 years.
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